Form 4: Macerich Co. Executive Doug J. Healey Reports Acquisition of 29,704 LTIP Units

Senior EVP Doug J. Healey reports the acquisition of 29,704 LTIP units in Macerich Co. following the vesting of performance-based units.

Summary

• Doug J. Healey, Senior EVP at Macerich Co., reported the acquisition of 29,704 LTIP Units on March 14, 2025.
• These units vested on December 31, 2024, based on the company's performance from January 1, 2022, through December 31, 2024.
• The Compensation Committee determined that 85.17% of the target amount of 34,876 LTIP Units were earned.
• The acquired LTIP Units can be converted into common units of limited partnership interest, which can then be redeemed for cash or common stock.
• Healey directly owns 150,888 shares of Macerich Co. common stock.

Sentiment

Score: 7

Explanation: The document indicates that the company met a significant portion of its performance targets, leading to the vesting of LTIP units. This suggests positive performance, but it's a routine filing, so the sentiment is moderately positive.

Positives

• The vesting of LTIP units suggests that Macerich Co. achieved a significant portion of its performance goals during the specified period.
• The executive's increased stake in the company aligns his interests with those of the shareholders.

Future Outlook

The LTIP Units are subject to retention until December 31, 2025, and can be converted into common units, which can be redeemed for cash or common stock.

Industry Context

This filing is typical for executives receiving equity-based compensation in publicly traded companies. It reflects the alignment of executive incentives with company performance and shareholder value.

Comparison to Industry Standards

• LTIP (Long-Term Incentive Plan) units are a common form of executive compensation in the real estate industry, aligning management's interests with long-term shareholder value.
• Similar to executives at Simon Property Group and Brookfield Property Partners, Healey's compensation includes performance-based equity awards.
• The vesting criteria based on company performance are standard practice, ensuring that executives are rewarded for achieving specific financial or operational goals.

Stakeholder Impact

• The vesting of LTIP units can positively impact shareholders by aligning executive compensation with company performance.
• Employees may view this as a positive sign of the company's success.

Key Dates